Guideline Value for Mathiazhagan Nagar - Sriramulu Street

Mathiazhagan Nagar - Sriramulu Street guideline value

The current guideline value for Mathiazhagan Nagar - Sriramulu Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Mathiazhagan Nagar - Sriramulu Street has changed

The guideline value for Mathiazhagan Nagar - Sriramulu Street has seen several revisions over the years. The earliest recorded figure in the register is from 2002, with a guideline value of Rs 455 per sq.ft. This increased to Rs 497 per sq.ft in 2003, marking a 9% rise. The value then rose significantly to Rs 850 per sq.ft in 2007, reflecting a 71% increase. Following this, the 2012 revision set the value at Rs 3,000 per sq.ft, which was a substantial 253% increase from the previous figure.

In 2017, the guideline value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently, it has been revised to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 625%.

Guideline values in Saligramam

In Saligramam village, there are 333 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing the guideline value of Mathiazhagan Nagar - Sriramulu Street below this median.

• Mathiazhagan Nagar - Singaravelan Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Thiruvalluvar Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Shanmugam Salai: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - V.O.C Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - Sarojini Street: Rs 3,300 per sq.ft (2024)
• Mathiazhagan Nagar - V.P.Akilan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mathiazhagan Nagar - Sriramulu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mathiazhagan Nagar - Sriramulu Street?

The Mathiazhagan Nagar - Sriramulu Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Saligramam

The guideline value is a crucial reference for property transactions in Saligramam. When buying or selling property, this value is used to determine the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

At the time of registration, the guideline value helps ensure that properties are valued consistently across the region. This standardization aids in the transparency of property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Mathiazhagan Nagar - Sriramulu Street?

The current guideline value for Mathiazhagan Nagar - Sriramulu Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 455 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 625% over the years.

What is the land classification for Mathiazhagan Nagar - Sriramulu Street?

Mathiazhagan Nagar - Sriramulu Street is classified as Residential Class III Type - I.

Where can I find the registration office for Mathiazhagan Nagar - Sriramulu Street?

The registration office for Mathiazhagan Nagar - Sriramulu Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.